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Penalty for delay in Transfer of Unspent CSR Amount – MCA levied penalty

April 29, 2022 1416 Views 0 comment Print

Violation of Section 135(5) occurs when a company fails to comply with this requirement by not spending the prescribed amount on CSR activities within the stipulated time frame.

Request for Concurrent Audit of SIDBI

April 29, 2022 2010 Views 0 comment Print

SIDBI reserves the sole right for carrying out any amendments/ modifications / changes including any addendum to this RfP. Such amendments / modifications / changes including any addendum to this RfP shall be notified on SIDBI’s website www.sidbi.in and these will be binding on the bidders.

IFSCA registered Broker Dealers permitted to provide market access to investors

April 29, 2022 381 Views 0 comment Print

With a view to expand the depth and reach of the capital markets in IFSC and enable access to resident Indian investors through Liberalized Remittance Scheme (LRS) route, for exchange traded securities in IFSC, it has been decided to permit IFSCA registered Broker Dealers to provide market access to investors through Authorized Persons based in India.

DGFT amends List of Agencies Authorised to issue CoO Preferential

April 29, 2022 1272 Views 0 comment Print

List of authorised agencies allowed to issue Certificate of Origin (Preferential) for India-UAE CEPA is notified vide Public Notice No. 05/2015-20-DGFT Dated 29th April, 2022 MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 29th April, 2022 Public Notice No. 05/2015-20-DGFT Subject : Amendment of Appendix 2B [List of […]

Tariff Notification No. 37/2022-Customs (N.T.), Dated: 29.04.2022

April 29, 2022 5016 Views 0 comment Print

Tariff Notification No. 37/2022-Customs (N.T.) | Dated: 13th April, 2022 – Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 29th April, 2022 Notification No. 37/2022-CUSTOMS (N.T.) S.O. 2030(E).—In exercise of the powers conferred by sub-section […]

Section 147 proceedings invalid as addition was made under section 56 for escapement of income of capital gain

April 29, 2022 2763 Views 0 comment Print

Smt. Nalini Anilbhai Amin Vs DCIT (ITAT Ahmedabad) The proceedings, in the instant case, under section 147 of the Act were initiated by the AO on account of escapement of income of the capital gain generated on the sale of the property. This fact can be verified from the reasons recorded by the AO for […]

Status Note on GST compensation released to States/UTs

April 29, 2022 1119 Views 0 comment Print

₹ 2.78 lakh crore of compensation released to States for the year 2020-21 itself ; nothing is pending for the year Centre released ₹ 7.35 lakh crore and compensation of ₹78,704 crore pending only for the year 2021-22 At the time of introduction of GST, the Constitution amendment provided that the Parliament, by law shall […]

Guidelines on Group Insurance Products under Health Insurance Business and other operational matters

April 29, 2022 753 Views 0 comment Print

On comprehensively examining the extant framework governing the administration of group health insurance products, in order to protect the interests of the insuring public and the insured members of group schemes, it is proposed to issue suitable guidelines on Group Insurance Products under Health Insurance Business and other operational matters.

Updation of UDINs at e-filing Portal & Date extension

April 28, 2022 9576 Views 0 comment Print

The timeline to update UDIN is extended till 31st May 2022 to give more time to CAs to correctly verify and upload UDINs.  Presently, various instances of invalidation of UDINs at the e-filing portal of Income Tax Dept. are being reported. The members are advised to try again to update those UDINs which have been invalidated earlier at the e-filing portal of Income Tax Dept. now.

Reduction of timelines for listing of units of InvIT

April 28, 2022 564 Views 0 comment Print

As a part of the continuing endeavour to streamline the process of public issue of units of Infrastructure Investment Trust (InvIT), it has been decided to reduce the time taken for allotment and listing after the closure of issue to six working days as against the present requirement of within twelve working days.

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